Early gains turn into late losses

Resembling a so-called “bull trap” session but on a small scale – i.e. one that starts attracting buyers, raises prices and then ends up in losses – the first day of the week at Athinon Avenue disappointed traders who chose to take positions in the morning.

The Athens Exchange (ATHEX) general index ended up at 655.79 points, shedding 0.42% from Friday’s 658.55 points. The large-cap FTSE 25 index contracted 0.47% to 1,587.79 points.

Nevertheless the banks index expanded 0.31%, as National earned 0.71%, Eurobank climbed 0.45% and Alpha grew 0.29%, while Piraeus conceded 0.68%.

Fourlis Holdings declined 4.34%, Mytilineos parted with 3.05%, OPAP decreased 2.47%, Hellenic Exchanges dropped 1.82%, Motor Oil gave up 1.73% and Athens Water (EYDAP) was down 1.69%, just as Sarantis improved 1.81% and Aegean Air advanced 1.72%

In total 49 stocks secured gains, 43 sustained losses and 28 remained unchanged.

Turnover amounted to 37.8 million euros, up from Friday’s €30.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.66% to 49.01 points.